Data-Driven Revolution: Shaping the Future of Supply Chain Planning
Jan 17, 2024
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AI algorithms in supply chain planning, importance of data, E2Open's role in connected planning, launch of Open AI's chat GPT, future of supply chain planning: connected planning & predictions
To mitigate supply chain disruptions in 2024, planners should focus on creating flexible strategies and leveraging advanced planning solutions to simulate and optimize complex scenarios.
AI and machine learning will play a significant role in supply chain planning in 2024, automating routine tasks and providing more accurate analytics and real-time decision-making capabilities to help organizations anticipate demand fluctuations and optimize supply chain processes.
Deep dives
Prediction 1: More disruptions in the supply chain
In 2024, there will be an increase in supply chain disruptions due to complex geopolitical situations and economic uncertainty. These disruptions will impact demand forecasting, supply shortages, and delayed shipments. To mitigate these risks, supply chain planners should focus on creating flexible and adaptable strategies and leverage advanced planning solutions to simulate and optimize complex scenarios.
Prediction 2: Greater integration of AI and ML in supply chain planning
In 2024, AI and machine learning will play a more significant role in supply chain planning. These technologies will automate routine tasks such as forecasting, demand sensing, and supply planning, freeing up planners to focus on strategic activities. AI and ML algorithms will continue to evolve, providing more accurate analytics and real-time decision-making capabilities, helping organizations anticipate demand fluctuations, identify risks, and optimize their supply chain processes.
Prediction 3: ESG mandates becoming crucial for supply chain
Environmental, social, and governance (ESG) mandates will become crucial for supply chain management. Companies will evaluate and minimize their supply chain's carbon footprint, optimize transportation routes, and engage with their supply base to ensure ethical business practices. ESG considerations will be integrated into risk assessments, helping organizations identify potential environmental and social risks and develop strategies to enhance supply chain resilience.
All throughout industry, companies are using innovative technologies to transform successful planning within the supply chain. And nobody is more knowledgeable in the development and the cutting-edge solutions than Zheng Sui, PhD, the Vice President of Product Management and Head of Research at e2open, who pioneers advanced technologies for next-generation supply chain planning solutions.
Listen in as host Scott Luton welcomes Dr. Sui to the show as they delve into the importance of data in supply chain planning, the impact of AI, and e2open's vision for the future of planning solutions, emphasizing connected planning.
Listen along as Scott and Dr. Sui also discuss:
Insights into AI algorithms and scenario planning
The evolving role of ESG considerations in supply chain management
Predictions for 2024, highlighting the need for flexible strategies and increased integration of AI
This episode is hosted by Scott Luton. For additional information, please visit our dedicated show page at: https://supplychainnow.com/data-driven-revolution-shaping-future-supply-chain-planning-1223
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